Rennie Review
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8ISSUE · AUGUST 10 RENNIE REVIEW WELCOME TO THE RENNIE REVIEW Providing you with monthly up-to-date market reviews of Greater Vancouver and project updates from Rennie Marketing Systems and Rennie & Associates Realty. RENNIE & ASSOCIATES REALTY 51 EAST PENDER STREET VANCOUVER, BC CANADA V6A 1S9 RENNIE.COM RENNIEREALTY.COM DOWNToWN AUGUST 2010 rennie.com STANLEY PARK DOWNTOWN COAL HARBOUR BURRARD GEORGIA WESTSTREET HASTINGS STREET INLET · Overall absorption is 14.72% ROBSON STREET ENGLISH BAY DENMAN STREET NELSON STREET · Most Active price segment are listings between $301,000 - $500,000 WEST HASTINGS CARDERO STREET DA DUNS VIE STREET · Least Active price segment are listings priced over $2.0 million with only 2 sales EET MUIR STREET R GEORGIA VIADUCT STREE PA CIFIC STREET BUTE ST T out of 121 listings ENGLISH BURRARD STREET BAY HOWE STREET · Number of sales in July totaled 179 which is a decrease from previous month STREET STREET VD GRANVILLE STREET CAMBIE MAIN STREET MAIN SEYMOUR CIFIC BL · Of 17 listings priced between $1.5 – 1.75 Million only 1 listing sold PA FALSE BURRARD STREETCREE KBRIDGE C A M CORNWALL AVUEEN B FALSE I E CREEK S T R E WEST 1ST AVENUE E T WEST 1ST A VENUE B R I GRANVILLE STREET BRIDGE D G E WEST 4TH AVENUE WEST 4TH AVENUE Attached DOWNTOWN June July % Chg Active Listings on Market 1357 1216 -10.39% Number of Sales 173 179 3.47% Total Value of Sales $117,571,319 $110,275,277 -6.21% Average Sale Price $679,603 $616,063 -9.35% # of listings # of sales Absorption Rate Coal Harbour 259 28 10.81% DT Vancouver West 734 109 14.85% False Creek North 223 42 18.83% Total 1216 179 14.72% Price Range # of Listings # of Sales Absorption Rate 0 - 300,000 47 9 19.15% 300,001 - 400,000 194 50 25.77% 400,001 - 500,000 194 44 22.68% 500,001 - 600,000 155 18 11.61% 600,001 - 700,000 106 14 13.21% 700,001 - 800,000 100 10 10.00% 800,001 - 900,000 71 10 14.08% 900,001 - 1,000,000 50 3 6.00% 1,000,001 - 1,250,000 77 10 12.99% 1,250,001 - 1,500,000 51 4 7.84% 1,500,001 - 1,750,000 17 4 23.53% 1,750,001 - 2,000,000 33 1 3.03% 2M plus 121 2 1.65% TOTAL 1216 179 14.72% Unit Type # of Listings # of Sales Absorption Rate Studio 48 6 12.50% One Bedroom 411 87 21.17% Two Bedroom 645 81 12.56% Three Bedroom Plus 112 5 4.46% TOTAL 1216 179 14.72% Attached $800,000 1600 1428 1457 1357 $700,000 $746,001 $653,533 1400 1216 $679,603 $600,000 1253 1200 $603,989 $614,232 $585,480 $500,000 1000 977 $400,000 800 PRICE $300,000 600 $200,000 400 210 236 186 173 $100,000 115 121 200 0 0 FEB MAR APR MAY JUN JUL AVG SALE PRICE ACTIVE LISTINGS ON MARKET NUMBER OF SALES The information set out herein (the “Information”) is intended for informational purposes only. RAR & RMS has not verified the information and does not represent, warrant or guarantee the accuracy, correctness and completeness of the information. RAR & RMS does not assume any responsibility or liability of any kind in connection with the information and the recipient’s reliance upon the information. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS. 51 EAST PENDER STREET, VANCOUVER BC · T 604 681 8898 04 VaNCOUVER WEsT AUGUST 2010 rennie.com English Bay Spanish Banks Beach Beach ENGLISH BAY Marine Dr. VANCOUVER WEST – ATTACHED Jericho Foreshore Park E N Beach Vanier D G W MA ID RINE Park DRIV Kitsilano E BURRAR Beach Park E LL E STREET BR IDGE NVI R A B GR ET · Overall absorption 9.25% RE CAMBI ST C STREET BRIDGE HANCELLOR BOULEVARD W 4TH AVENUE W 6TH AVENUE UN T I T VERS ALMA STREET University Golf W BROADWAY IT · Most active price segment are listings between $0 - $300,000 WESBROOK MA Y Course (Public) B W 10TH AVENUE OU LEVARD W 12TH AVENUE BLANCA STREE MACDONALD STREET ARBUTUS STREET BURRARD STREET LL DISCOVERY STREE W 16TH AVENUE · Least active price segment are listings between $1,500,000 - $1,750,000 UNIVERSITY OF BRITISH COLUMBIA W KING EDWARD AVENUE University Endowment · Number of sales is decreased by 12% in July Lands Queen W 33RD AVENUE Elizabeth SW Park MARIN Van Dusen · Average selling price of an attached home is $560,360 which is a decrease of E DRIV Botanical E RANVILLE STREET Gardens DUNBAR STREET OAK STREET MACKENZIE STREET G W 41ST AVENUE Shaughnessy Golf and Country Club (Private) 16% from previous month STRAIT OF GEORGIA CAMBIE STREET Musqueam Point Grey Golf W 49TH AVENUE Golf Course and Country Club (Public) (Private) NORTH ARM W BOULEVARD Langara Golf Iona Marine Drive Course (Public) P Beach McCleery Golf Course ARK Regional IONA Golf Course (Private) DRIV SW VANCOUVER WEST – DETACHED Park ISLAND (Public) E MAR INE DRIV E W 70TH AVENUE · Overall absorption 16.79% SEA ISLAND FERGUSON ROAD A RT H OAK STREET BR UR L A I VANCOUVER N G B · Most active price segment are listings between $1.0 and $1.25 Million with INTERNATIONAL R I D AIRPORT G GRAUER ROAD E IDGE rate of absorption at 38% · Least active price segment are listings over $1.75 Million where there are over 480 listings · Number of sales decreased slightly but the average price of a home remained at $1.9 Million Attached Detached VANCOUVeR WeST June July % Chg VANCOUVeR WeST June July % Chg Active Listings on Market 1353 1242 -8% Active Listings on Market 755 673 -10.86% Number of Sales 258 226 -12.40% Number of Sales 123 113 -8.13% Total Value of Sales $171,266,850 $126,641,360 -26.06% Total Value of Sales $233,909,592 $211,459,725 -9.60% Average Sale Price $663,825 $560,360 -15.59% Average Sale Price $1,901,704 $1,871,325 -1.60% Price Range # of Listings # of Sales Absorption Rate Price Range # of Listings # of Sales Absorption Rate 0 - 300,000 133 27 20.30% 0 - 500,000 3 0 0.00% 300,001 - 400,000 365 51 13.97% 500,001 - 600,000 3 0 0.00% 400,001 - 500,000 391 48 12.28% 600,001 - 700,000 1 0 0.00% 500,001 - 600,000 352 35 9.94% 700,001 - 800,000 1 0 0.00% 600,001 - 700,000 236 20 8.47% 800,001 - 900,000 4 3 75.00% 700,001 - 800,000 228 9 3.95% 900,001 - 1,000,000 8 2 25.00% 800,001 - 900,000 131 8 6.11% 1,000,001 - 1,250,000 55 21 38.18% 900,001 - 1,000,000 110 6 5.45% 1,250,001 - 1,500,000 73 26 35.62% 1,000,001 - 1,250,000 130 16 12.31% 1,500,001 - 1,750,000 77 14 18.18% 1,250,001 - 1,500,000 126 4 3.17% 1,750,001 - 2,000,000 87 15 17.24% 1,500,001 - 1,750,000 39 0 0.00% 2M plus 361 32 8.86% 1,750,001 - 2,000,000 47 1 2.13% TOTAL 673 113 16.79% 2M plus 155 1 0.65% TOTAL 2443 226 9.25% Unit Type # of Listings # of Sales Absorption Rate Two Bedroom & Under 20 4 20.00% Unit Type # of Listings # of Sales Absorption Rate Three Bedroom 57 17 29.82% Studio 78 9 11.54% Four Bedroom 153 36 23.53% One Bedroom 790 87 11.01% Five Bedroom Plus 443 56 12.64% Two Bedroom 1244 104 8.36% TOTAL 673 113 16.79% Three Bedroom Plus 331 26 7.85% TOTAL 2443 226 9.25% Attached Detached $800,000 1600 $2,200,000 900 1381 1410 799 $683,748 1353 $2,100,000 772 755 800 $700,000 1242 1400 $2,014,979 $640,847 $2,016,669 $626,589 $2,000,000 673 700 $663,825 1200 $1,896,999 $600,000 $1,900,000 963 1112 $591,904 $583,743 $1,902,893 $1,901,704 600 1000 $1,800,000 $1,871,325 $500,000 561 500 800 $1,700,000 $400,000 400 PRICE PRICE $1,600,000 600 300 402 $1,500,000 $300,000 341 207 329 324 400 179 258 141 158 200 198 $1,400,000 123 $200,000 113 200 $1,300,000 100 $100,000 0 $1,200,000 0 FEB MAR APR MAY JUN JUL FEB MAR APR MAY JUN JUL AVG SALE PRICE ACTIVE LISTINGS ON MARKET NUMBER OF SALES AVG SALE PRICE ACTIVE LISTINGS ON MARKET NUMBER OF SALES The information set out herein (the “Information”) is intended for informational purposes only. RAR & RMS has not verified the information and does not represent, warrant or guarantee the accuracy, correctness and completeness of the information. RAR & RMS does not assume any responsibility or liability of any kind in connection with the information and the recipient’s reliance upon the information. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information.